SOURCE: Gold Bag, Inc.

December 09, 2010 09:16 ET

Larry Segerstrom Joins Board of Directors of Gold Bag Inc.

RENO, NV--(Marketwire - December 9, 2010) - Gold Bag, Inc. (PINKSHEETS: GBGI) (OTCBB: GBGI) announces the appointment of Larry Segerstrom to its board of directors. Mr. Segerstrom has 30 years of experience in the mining industry and holds a Bachelor of Science (Geo.) from Colorado State University, a Master's Degree in Economic Geology from University of Arizona and an MBA from Thunderbird School of Global Management. Since 2006, Larry was Chief Operating Officer of Paramount Gold and Silver Corp. where he led the discovery of more than 1 million ounces of gold and 75 million ounces of silver at its San Miguel Project in Mexico. Prior to that Mr. Segerstrom was Manager of the Geologic Services Group at Freeport McMoRan's Grasberg District Mining Camp where he led the discovery and development of new ore reserves totaling 3.4 billion pounds of copper and 3.6 million ounces of gold, exceeding corporate targets. From 1993 to 1999, Mr. Segerstrom was General Manager of Layne Christensen drilling in Mexico. From 1976 to 1993 Mr. Segerstrom held positions with Newmont, Phelps Dodge and Noranda. Mr. Segerstrom is based in the United States and is fluent in Spanish, which will prove valuable in identifying and evaluating potential gold projects in Latin America and the United States.

GBGI, as part of its previously announced business strategy, is also forming an investment advisory board and investment committee to evaluate the merits of acquisitions and investment opportunities. In addition to joining the corporate board, Mr. Segerstrom will become a member of the investment advisory board of GBGI.

Grant White, CEO of GBGI, commented, "As mentioned previously, GBGI is going to be looking to add people with experience and credibility in the gold mining sector to our team. We are very excited to have a geologist of the quality and experience of Larry Segerstrom joining the board of GBGI as we undertake our business strategy of acquiring and developing gold projects in the Americas."

About Gold Bag Inc.

Gold Bag Inc. is a Company focused on acquiring and developing gold mining properties primarily in the Americas including a recently signed option agreement with Victoria Gold for two properties in the Timmins Mining District and through its wholly owned subsidiary Focus Gold Mexico Corp. For further information please visit www.goldbag.com or www.focusgoldcorp.com.

Contact Information

  • Gold Bag, Inc.
    Grant White
    CEO
    (416) 593-8034 ext. 2115

    Investor Relations:
    Desert Son
    Kurt Schemers
    (623) 465-0844
    Or

    Small Cap Power
    Vikas Ranjan
    416 605-7024